M&T Bank Corp Has $251,000 Holdings in Hormel Foods Corporation (NYSE:HRL)

M&T Bank Corp lessened its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 32.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,115 shares of the company’s stock after selling 3,921 shares during the period. M&T Bank Corp’s holdings in Hormel Foods were worth $251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Hormel Foods by 12.0% during the 1st quarter. Principal Financial Group Inc. now owns 452,925 shares of the company’s stock worth $14,014,000 after buying an additional 48,657 shares during the period. Aviva PLC raised its holdings in Hormel Foods by 58.9% during the 4th quarter. Aviva PLC now owns 313,619 shares of the company’s stock worth $9,838,000 after buying an additional 116,304 shares during the period. Stifel Financial Corp raised its holdings in Hormel Foods by 33.9% during the 4th quarter. Stifel Financial Corp now owns 4,374,456 shares of the company’s stock worth $137,227,000 after buying an additional 1,107,270 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Hormel Foods by 180.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 89,025 shares of the company’s stock worth $2,737,000 after buying an additional 57,280 shares during the period. Finally, DnB Asset Management AS raised its holdings in Hormel Foods by 14.7% during the 4th quarter. DnB Asset Management AS now owns 71,010 shares of the company’s stock worth $2,228,000 after buying an additional 9,120 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of HRL opened at $29.15 on Friday. The firm has a market cap of $16.03 billion, a PE ratio of 21.43, a PEG ratio of 3.38 and a beta of 0.33. The firm’s 50 day moving average price is $30.31 and its 200 day moving average price is $29.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 2.47. Hormel Foods Corporation has a twelve month low of $27.59 and a twelve month high of $33.80.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share. As a group, research analysts expect that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, July 14th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, July 14th. This represents a $1.16 annualized dividend and a yield of 3.98%. Hormel Foods’s dividend payout ratio (DPR) is presently 85.29%.

Analyst Ratings Changes

HRL has been the topic of a number of research reports. The Goldman Sachs Group began coverage on Hormel Foods in a report on Monday, June 23rd. They issued a “buy” rating and a $35.00 target price on the stock. BNP Paribas upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 27th. Bank of America upgraded Hormel Foods from an “underperform” rating to a “neutral” rating and upped their target price for the company from $29.00 to $35.00 in a report on Tuesday, April 15th. Stephens reiterated an “equal weight” rating and issued a $31.00 target price on shares of Hormel Foods in a report on Thursday, May 22nd. Finally, BNP Paribas Exane upgraded Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 target price on the stock in a report on Tuesday, May 27th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.86.

Hormel Foods Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.